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Title: “CoinDCX Not for Sale”: CEO Shuts Down Coinbase Buyout Talks Amid Hack Speculation
India’s largest crypto exchange, CoinDCX, has put to rest rumors of a potential acquisition by Coinbase. In a statement on social media platform X, CEO Sumit Gupta has categorically denied the possibility of selling the company.
Background
Following the recent $44 million hack, CoinDCX has been subject to intense scrutiny and speculation surrounding its future viability. It appears that this hack was caused by unauthorized access to the internal wallet of CoinDCX.
The recent rumors surrounding Coinbase’s potential acquisition have only added fuel to the fire, with some even speculating about a potential deal worth $900 million.
CEO Shuts Down Acquisition Rumors
In response to these rumors, CEO Sumit Gupta took to social media platform X to address the speculation. In a statement posted by CoinDCX, Gupta stated that his company is “super focused on building for India’s crypto story and not up for sale.”
It remains unclear what sparked this particular instance of speculation regarding potential acquisition talks.
Despite this setback, it appears that CoinDCX has no intention of selling the company.
Source: bitcoinist.com
